berg80
Diamond Member
- Oct 28, 2017
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- #41
The premise of trump's tariffs is that they don't.No one denies that importers pay the tariff
AI Overview
President Trump has consistently maintained that foreign countries, rather than American consumers, pay for the tariffs he imposes on imported goods. He has frequently described these tariffs as a "tax on another country" and a tool to make the U.S. "rich" and reduce trade deficits.
U.S. trade deficit totaled $901 billion in 2025, barely budging despite Trump’s tariffs
The U.S. trade deficit swelled in December, closing out a year in which the imbalance was essentially unchanged despite efforts by the Trump administration to close the wide gap.Closing out a tumultuous year in the global marketplace, the goods and services shortfall in December totaled $70.3 billion, the Commerce Department reported Thursday. That marked an increase of $17.3 billion from November and was well above the Dow Jones consensus estimate of $55.5 billion.
For the full year, the U.S. ran a $901.5 billion deficit, down slightly from 2024 but only by 0.2%, or $2.1 billion. The total was also a bit less than the record $923.7 billion shortfall in 2022.
The report follows a year in which President Donald Trump implemented a series of aggressive tariffs aimed at leveling the global playing field. In April, Trump announced an across-the-board duty of 10% on all imports as well as so-called reciprocal tariffs aimed at specific countries that had run up surpluses against the U.S.
U.S. trade deficit totaled $901 billion in 2025, barely budging despite Trump's tariffs
The U.S. trade deficit swelled in December, closing out a year in which the imbalance was essentially unchanged.